Pioneer Pow (PPSI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1050.4%

-$22.81

vs $2.40 price

Levered DCF

-$23.13

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.52

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-8.76×	1.39×	-35.74×	-7.24×	-31.25×	-11.38×	-1.64×	-8.08×
P/B	1.79×	1.25×	4.73×	1.54×	3.4×	2.44×	1.18×	3.82×
P/S	1.9×	1.94×	6.05×	1.01×	3.63×	1.73×	0.96×	0.43×
EV / EBITDA	-7.5×	-0.95×	-13.33×	-4.21×	-49.55×	-7.23×	-1.12×	-12.2×
Gross margin	12.4%	24.1%	20.0%	10.9%	7.6%	4.5%	5.7%	18.1%
Operating margin	-23.9%	-22.9%	-63.3%	-22.5%	-21.1%	-22.0%	-57.1%	-1.8%
Net margin	-23.3%	139.2%	-17.1%	-20.9%	-11.8%	-15.3%	-5.0%	-5.3%
Current ratio	5.23×	1.89×	1.52×	1.74×	3.82×	2.52×	2.07×	0.9×
Debt / equity	0.05×	0.02×	0.09×	0.13×	0.06×	0.1×	0.02×	2.2×
Interest coverage	0×	0×	0×	0×	0×	0×	-29.68×	-2.04×
Dividend yield	31.7%	36.3%	0.0%	0.0%	1.6%	0.0%	60.4%	0.0%
Payout ratio	-258.5%	50.6%	0.0%	0.0%	-48.3%	0.0%	-1158.4%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-22.0%	89.9%	-13.3%	-32.0%	-11.1%	-21.5%	-6.1%	-47.4%
Return on invested capital	-20.8%	-10.1%	-45.4%	-30.1%	-17.3%	-25.9%	-61.8%	-4.3%
Return on assets	-17.8%	48.3%	-5.7%	-14.6%	-7.8%	-14.0%	-3.6%	-7.8%
Free cash flow yield	-16.2%	-22.5%	-9.5%	-27.9%	-5.2%	-10.7%	-28.9%	3.4%
Earnings yield	-12.3%	71.8%	-2.8%	-20.8%	-3.3%	-8.8%	-5.2%	-12.4%
Enterprise value	$39.1M	$3.5M	$64.9M	$18M	$57.7M	$27.6M	$12M	$71.8M
Net debt / EBITDA	2.58×	11.05×	0.49×	1.87×	7.47×	1.61×	0.74×	-4.44×
Cash conversion cycle (days)	103	188	385	207	208	26	48	96